Hundreds of Companies Descend on Washington to Fight Trump’s Tariffs
- President has targeted $300 billion in China goods for duties
- Companies are lining up for Washington hearing on tariffs
The New Balance Inc. manufacturing facility in Lawrence, Massachusetts, U.S.
Photographer: Scott Eisen/BloombergThis article is for subscribers only.
New Balance Athletics Inc. has long advocated for and benefited from tariffs, competing with Nike Inc. and other footwear companies while still making shoes in the U.S. Now, it’s among the critics of President Donald Trump’s duties testifying at a public hearing that started Monday.
The Boston-based firm said while it supports Trump’s efforts to force China to address intellectual property theft in a trade deal, its U.S. factories are supported by a global supply chain connected to China and built over decades. Duties on soles and other components would hurt the business, as do China’s retaliatory tariffs on U.S. exports, the company said.